Bank of New York Mellon Corp Sells 14,603 Shares of TopBuild Corp. $BLD

Bank of New York Mellon Corp cut its stake in TopBuild Corp. (NYSE:BLD) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,694 shares of the construction company’s stock after selling 14,603 shares during the period. Bank of New York Mellon Corp’s holdings in TopBuild were worth $63,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Core Wealth Advisors LLC acquired a new position in shares of TopBuild in the 4th quarter worth approximately $26,000. Advisory Services Network LLC bought a new position in TopBuild during the third quarter worth $27,000. Parallel Advisors LLC raised its stake in TopBuild by 50.0% during the fourth quarter. Parallel Advisors LLC now owns 75 shares of the construction company’s stock worth $31,000 after buying an additional 25 shares during the last quarter. Global Retirement Partners LLC raised its stake in TopBuild by 310.5% during the fourth quarter. Global Retirement Partners LLC now owns 78 shares of the construction company’s stock worth $33,000 after buying an additional 59 shares during the last quarter. Finally, First Horizon Corp lifted its holdings in TopBuild by 138.9% in the fourth quarter. First Horizon Corp now owns 86 shares of the construction company’s stock valued at $36,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BLD shares. Evercore set a $360.00 price target on TopBuild in a report on Monday, June 29th. Zacks Research raised TopBuild from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $496.00 target price (up from $487.00) on shares of TopBuild in a research report on Tuesday, April 21st. UBS Group set a $440.00 target price on TopBuild in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lowered their target price on TopBuild from $525.00 to $475.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $465.00.

TopBuild Stock Performance

NYSE:BLD opened at $354.53 on Thursday. The company has a current ratio of 2.00, a quick ratio of 1.41 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 4.80 and a beta of 1.80. The firm has a fifty day simple moving average of $391.10 and a two-hundred day simple moving average of $422.03. TopBuild Corp. has a 12 month low of $321.67 and a 12 month high of $559.47.

TopBuild (NYSE:BLD) last announced its quarterly earnings data on Tuesday, May 5th. The construction company reported $3.75 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.11. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.41 billion. TopBuild had a net margin of 8.95% and a return on equity of 23.53%. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.63 earnings per share. Analysts expect that TopBuild Corp. will post 18.07 EPS for the current fiscal year.

About TopBuild

TopBuild Corp. (NYSE: BLD) is a leading installer and distributor of insulation and building material products serving primarily the U.S. construction market. Headquartered in Daytona Beach, Florida, the company was formed in 2011 as a spin-off from ABF Freight System and has since grown through a combination of organic expansion and targeted acquisitions. TopBuild’s core mission is to enhance energy efficiency and comfort in new residential and light commercial construction projects by providing comprehensive insulation solutions and related services.

The company operates through two main segments.